NEW YORK , Aug. 29, 2022 /PRNewswire/ -- The Outdoor Landscape Lighting Market report provides a detailed analysis of the competitive scenario, the pre-and post-COVID-19 impact on businesses, and the market growth across various regions. The outdoor landscape lighting market is estimated to grow by USD 664.88 million from 2021 to 2026, growing at a CAGR of 5.52% as per the latest market report by Technavio. 44% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for outdoor landscape lighting in APAC. Market growth in this region will be faster than the growth of the market in other regions. The rising disposable incomes, an increasing number of dual-income households, growing product awareness, and increasing availability of a comprehensive range of product offerings will facilitate the outdoor landscape lighting market growth in APAC over the forecast period.
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Outdoor Landscape Lighting Market - Market Dynamics
The key factor driving growth in the outdoor landscape lighting market is the growing demand for LED lighting for different applications.
The commercial viability of LEDs has accelerated their use for different applications, including the ATG and underwater segments. They are increasingly deployed in retail, hospitality, architecture, as well as other commercial and residential applications.
This is increasing the adoption of LED lighting worldwide. The continuous decrease in the average selling price (ASP) of LED is expected to positively affect its penetration and market size considerably in both the residential and commercial sectors during the forecast period. These factors are expected to boost the growth of the global outdoor landscape lighting market during the forecast period.
The poor performance of LED lighting at high temperatures will be a major challenge for the outdoor landscape lighting market during the forecast period.
The performance of LED chips and their related products is inversely proportional to temperature. The higher the temperature, the lower the LED performance. Since LED lights work on electricity and electricity generates heat, the constant current results in the light output of an LED varying as a function of its junction temperature. At the high junction, the temperature heats the semiconducting element, resulting in causing the light output to decrease at a faster rate over the long term.
High temperatures do not affect the functioning of traditional lighting due to their warm beams. However, LEDs perform better in a relatively cooler environment as they have a cool beam due to the absence of infrared radiation. This factor, along with LED lighting's high cost, is expected to pose a threat to the overall growth of the global outdoor landscape lighting market.
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Outdoor Landscape Lighting Market - Company Profiles
The outdoor landscape lighting market is fragmented and the vendors are deploying growth strategies such as increasing innovations in technology and expansion of product offerings to compete in the market. Some of the companies covered in this report are Acuity Brands Inc., ALLIANCE Outdoor Lighting, CAST Lighting LLC, Eaton Corp. Plc, General Electric Co., Halco Lighting Technologies LLC, Hubbell Inc., Kichler Lighting LLC, Landscape Forms Inc., LSI Industries Inc., Orbit Industries Inc., OSRAM Licht AG, Oversea Lighting and Electric (M) Sdn. Bhd., Panasonic Corp., Signify NV, VOLT Lighting, WAC Lighting, Wipro Ltd., Cree Inc., etc.
General Electric Co. - The company offers outdoor landscape lighting products such as Evolve EACL, Evolve EALS, and Evolve EALP.
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Outdoor Landscape Lighting Market - Market Segmentation
By Application, the market is classified into segments such as ATG and underwater.
BY End-user, the market is classified into segments such as Commercial and residential.
By Light source, the market is classified into segments such as Traditional and LED.
By Geography, the market is classified as APAC, Europe , North America , South America , and the Middle East and Africa.
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The competitive scenario provided in the Outdoor Landscape Lighting Market Report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Outdoor Landscape Lighting Market Forecast Report - Buy Now!
The copper alloy wire market share is expected to increase by USD 18.16 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.21%.
The electric wire and cable market share in North America is expected to increase to USD 1.61 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 1.58%.
Outdoor Landscape Lighting Market Scope
Accelerate at a CAGR of 5.52%
APAC, Europe, North America, South America, and Middle East and Africa
US, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
Acuity Brands Inc., ALLIANCE Outdoor Lighting, CAST Lighting LLC, Eaton Corp. Plc, General Electric Co., Halco Lighting Technologies LLC, Hubbell Inc., Kichler Lighting LLC, Landscape Forms Inc., LSI Industries Inc., Orbit Industries Inc., OSRAM Licht AG, Oversea Lighting and Electric (M) Sdn. Bhd., Panasonic Corp., Signify NV, VOLT Lighting, WAC Lighting, Wipro Ltd., and Cree Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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3.4 Market outlook: Forecast for 2021-2026
5.3 Electrical appliances - Market size and forecast 2021-2026
5.4 Construction - Market size and forecast 2021-2026
5.5 Automotive - Market size and forecast 2021-2026
5.6 Others - Market size and forecast 2021-2026
6.3 Power cable - Market size and forecast 2021-2026
6.4 Electronic wire - Market size and forecast 2021-2026
6.5 Building cable - Market size and forecast 2021-2026
6.6 Others - Market size and forecast 2021-2026
8.3 US - Market size and forecast 2021-2026
8.4 Canada - Market size and forecast 2021-2026
8.5 Mexico - Market size and forecast 2021-2026
9.3 Impact of drivers and challenges
12.3 Currency conversion rates for US$
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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